CoreStack Closes $30 Million Series B Round
The round was led by Avatar Growth Capital, Dallas Venture Capital, Iron Pillar and others
CoreStack, a global multi-Cloud governance SaaS provider, has raised $30 million in Series B funding. The round was led by Avatar Growth Capital, Dallas Venture Capital (DVC), Iron Pillar and other angel investors.
The funding will help CoreStack continue its rapid pace of growth and innovation with its AI-powered continuous and autonomous cloud governance at scale; while also making strategic headway with expansion into new markets, said a statement.
“CoreStack’s unique and innovative end-to-end Cloud governance platform is a trail-blazer in the industry. We are truly impressed with the leadership team and the company’s progress,” said Abhay Havaldar, managing director of Avatar Growth Capital, in the statement.
“Adoption of enterprise Cloud solutions has witnessed a massive uptick post-pandemic. CoreStack is leading the way in helping these companies unleash the power of Cloud through governance across compliance, security, operations, cost and consumption. We are thrilled that we can further expand and innovate,” said Ezhilarasan Natarajan, CEO of CoreStack, in the statement.
The Series B financing is a result of CoreStack’s significant advances in product innovation, remarkable customer growth and partnerships with Amazon AWS, Microsoft Azure and Google Cloud. Despite the pandemic, CoreStack saw significant acquisition of new customer logos along with key executive appointments and continued adoption at large enterprises, added the statement.